Helix Energy Solutions Group, Inc.
It appears that demand for oil drilling equipment in the Gulf of Mexico and other regions, such as Brazil, is on the rise, as the second half of 2013 commences. As such, rig utilization and pricing increases might well support earnings of oilfield service providers. At the same time, the shares of many of these entities are trading at subdued valuations, and this could be a good opportunity to add more »
Please look into these three energy-related companies reporting this week:
Helix Energy (NYSE: HLX)
Helix will release fourth-quarter results before the bell on Wednesday, Feb. 20. Earlier this month, the company completed the sale of its oil and gas operation, netting $620 million in cash. Proceeds will be used partly to pay down long-term debt. Additionally, the company has agreements it reached in October 2012 to sell its remaining pipelay more »
Oilfield drilling contractors have a few positives working in their favor: first, the oil and gas industry continues to explore and develop, specifically in deepwater regions. Second, consolidation among companies should help to firm up pricing and utilization. On the other hand, as it expands there is some concern of excess capacity, a situation that tends to go hand in hand with falling energy prices and reduced production. Subsequently, we more »